Social networking giant Facebook may be looking to conquer another market, Wall Street. After news spread of a $500 million investment — $450 million from Goldman Sachs and $50 million from Russia’s Sky Technologies — Facebook was given a valuation of $50 billion by market analysts and firms. The eleven figure price tag was placed upon the privately held company even as the government’s Securities and Exchange Commission has, purportedly, launched a formal inquiry into Facebook’s private-share trading activity. According to the Times, the SEC is investigating the “increasingly hot private market for shares in Internet companies, including Facebook, Twitter, the gaming site Zynga and LinkedIn.” The government agency is looking for loopholes in the public disclosure laws that companies, investors, and firms may be exploiting through the use of private shares. A $50 billion valuation of Facebook makes the company’s youthful CEO, Mark Zuckerberg, worth an estimated $15 billion — more than double the estimated $6.9 billion net-worth put on Facebook’s founder back in September.
Amid SEC inquiry, Facebook gets $50 billion valuation after $500 million private investment
Updated Dec 19th, 2018 6:58PM EST
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